The Clermont York has agreed to pay a total of one million two hundred thousand dollars ($1,200,000) (the “Cash Component”) to be divided into two pools as follows:
- Former Tenants Pool – Defendant will pay or cause to be paid a total of $559,764.06 into the Former Tenants Pool. The Former Tenants Pool will be used to make distributions to all Class Members who no longer reside at the Building but did so at any time during the Class Period.
- Current Tenants Pool – Defendant will pay or cause to be paid a total of $640,235.94 into the Current Tenants Pool. The Current Tenants Pool will be used to make distributions to all Class Members who currently reside at the Building as of January 17, 2017.
Lead Counsel applied to the Court, unopposed by Defendant, for a fee award of up to 30% of the Cash Component ($360,000), plus out-of-pocket expenses (the “Attorneys’ Fee Award and Expenses”) to be paid proportionately from the two Cash Component Pools.
Plaintiff applied, unopposed by Defendant, to the Court for approval of an Incentive Award for the Class Representative in the amount up to $25,000 (the “Incentive Award”) to be paid proportionately from the two Cash Component Pools.
In exchange for the cash settlement, Plaintiff and each Class Member who has not validly and timely requested exclusion from the Settlement shall be deemed to have fully, finally, and forever released any and all claims against the Defendant relating to the nature of the lawsuit.